The Complete Idiot's Guide to Money for Teens

Table Of Contents

I. MONEY: A FACT OF LIFE.

1. Why Money Is So Important.

Money and the American Way of Life. Understanding the Role of Money in Your Life. You Just Can’t Live Without It. How Much Money Does One Person Need?

Life on Your Own. Hanging In at Home.

2. Using Money to Get What You Want.

Buying Stuff You Need-or Think You Need. Buying Stuff We Don’t Need, But Want Anyway. Knowing the Difference Between Want and Need. Money Gets You Stuff You Can’t See.

Power and Status. Respect. Independence. Choices. Worries.

What Happens When You Don’t Have Enough.

3. Keeping Money in Perspective.

Money Can’t Buy Ya Love. Having Fun-Free. Can Money Really Make You Happy?

Income and Happiness. Less Is More?

Money and Social Responsibility.

Helping Out Who You Know. Giving to People You’ll Never See.

II. SO, HOW ARE YOU GONNA GET IT?

4. Allowance Only Goes So Far.

Philosophies of Allowance.

Earning Allowance for Chores. Giving Allowance Just Because. Using Allowance to Teach About Finances. No Allowance.

How Much Allowance Should You Get? Bargaining to Increase Your Allowance.

Negotiating 101. Know When to Quit.

5. Beyond Allowance.

Is It Time to Look for a Job?

Different Jobs at Different Ages. Minimum Wage and Salary Scales. Those Pesky Things Called Taxes.

Not All Jobs Are Created Equal.

Physical Labor. Using Your Head. Take This Job and Shove It!

Juggling a Job and the Rest of Your Life. There’s More to a Job Than the Money You Earn.

Experience. Contacts.

Creative Ways of Making Money.

6. Money You Might Already Have.

Surprise! You Might Have More Than You Know.

Happy Birthday, Honey! Savings Bonds and So Forth.

Tracking Down Your Assets. Figuring Out Your Net Worth. Is There Money in Your Future?

III. SMART SAVING.

7. Saving Money Isn’t Always Easy.

Why Some People Find It Harder to Save. What’s Your Type?

If You’re a Saver. If You’re a Spender.

Ways to Make Saving Money Easier. Big Reasons to Start Saving Now.

8. How Much Should You Save?

Looking For a Magic Formula.

How Much You Earn. Expenses. Incentives for Saving. Future Goals. Commitment.

Deciding What to Save and Sticking to Your Plan. Paying Yourself (and Your Savings) First.

9. Making Your Money Work for You.

Some Ways of Saving Are Better Than Others. Opening a Savings Account.

Choosing a Bank. Or, Maybe Not a Bank. Internet Banks. Finding the Best Kind of Account.

The Miracle of Compound Interest.

Simple Interest. Compound Interest.

Looking Beyond Savings Accounts.

Money Market Accounts. Certificates of Deposit. Savings Bonds.

IV. SMART SPENDING.

10. Budgets Are for Everybody.

Why Nobody Likes a Budget. The Benefits of Budgeting. What to Include in Your Budget.

Necessities First. Nonessentials Second. Understanding Budget Terms.

Factoring In Nonroutine Expenses. Trimming the Fat from Your Budget.

11. Getting the Most for Your Money.

Deciding What to Buy.

Go For It! Not Today, Thanks.

Knowing When to Buy.

Buying in Season. Buying out of Season.

Figuring Out Where to Buy.

Department Stores. Specialty Shops. Discount Stores. Outlet Stores. On the Net. Mail Order.

Some Things Are Better the Second Time Around.

12. The Wheels Thing.

America’s Love Affair with the Automobile. Is There a Car in Your Future? Buying an Automobile.

What Will It Cost to Buy a Car? Financing Your Car. Leasing a Vehicle. Buying a Car Online.

Alternatives to Buying a Car. Other Expenses When You Own a Car.

Gas and Maintenance. Insurance. Other Costs.

V. KEEPING TRACK OF WHAT YOU’VE GOT.

13. The Great Balancing Act.

Knowing When You Need a Checking Account. Finding a Checking Account That’s Right for You.

Interest-Bearing Accounts. Non-Interest Bearing Accounts. Joint Checking Accounts. Senior or Student Checking Accounts. Lifeline Checking Accounts. Express Checking Accounts.

Questions to Ask When Shopping for a Checking Account. How to Write a Check. Keeping Track of Checks You Write. Balancing Your Checkbook.

Keeping Your Balance in Balance. Don’t Spend That Money Yet!

14. ATMs and Debit Cards.

The History of ATMs. How Do ATMs Work? Is One ATM Better Than Another? Advantages of ATMs and Debit Cards. Getting Around ATM Fees. Some Pitfalls of Plastic. It Really Is Money.

VI. ADVANCED MONEY.

15. Understanding Credit Cards and Debt.

Who Ever Thought of Credit Cards, Anyway? Good Reasons to Have a Credit Card.

Establishing a Credit History. Emergencies.

Good Reasons Not to Have a Credit Card.

Talk About High Interest! Annual Fees. Other Fees. Looking in the Face of Temptation.

What to Do If Somebody Offers You a Card. Getting a Card If You Need One.

16. The Wonderful World of Investments.

Investing: Not for Adults Only. Knowing When You’re Ready to Start. Different Kinds of Investments.

A Money Market and CD Review. Certificates of Deposit. Mutual Funds. Individual Retirement Accounts.

A Beginner’s Guide to the Stock Market.

17. Thinking About a Business of Your Own.

Teenage Entrepreneurs.

Who Are They? What Are They Doing?

Knowing If You Have What It Takes. The Highs and Lows of Entrepreneurship. Planning Now for What You’ll Do Later.

VII. APPENDIX.

Appendix A: Glossary.

Index.